Regis Inc. bought a machine on January 1, 2008 for $800,000. The machine had an...
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Regis Inc. bought a machine on January 1, 2008 for $800,000. The machine had an expected life of 20 years and was expected to have a salvage value of $80,000. On July 1, 2018, the company reviewed the potential of the machine and determined that its future net cash flows totaled $400,000 and its fair value was $280,000. If the company does not plan to dispose of it, what should Regis record as an impairment loss on July 1, 2018?
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